Bowers v. Northern Two Cayes Company Limited et al

Filing 52

JUDGMENT in favor of Raymond V. Bowers against Lighthouse Reef Resort Limited, Northern Two Cayes Company Limited. Signed by District Judge Martin Reidinger on 11/14/2017. (kby)

IN THE UNITED STATES DISTRICT COURT
FOR THE WESTERN DISTRICT OF NORTH CAROLINA
ASHEVILLE DIVISION
CIVIL CASE NO. 1:15-cv-00029-MR-DLH

RAYMOND V. BOWERS,

)
)
Plaintiff,
)
)
vs.
)
)
NORTHERN TWO CAYES
)
COMPANY LIMITED and
)
LIGHTHOUSE REEF RESORT )
LTD.,
)
)
Defendants.
)
___________________________ )

JUDGMENT

FOR THE REASONS stated in the Order entered simultaneously
herewith,
IT IS, THEREFORE, ORDERED, ADJUDGED, AND DECREED that
the arbitration award, as supplemented, and as attached hereto, is hereby
CONFIRMED. In accordance with the confirmation of the final arbitration
award, the Plaintiff Raymond V. Bowers shall have and recover against the
Defendants Northern Two Cayes Company Limited and Lighthouse Reef
Resort Limited an award of $125,000, representing 4% of the $3,125,000
heretofore paid by Puerto Azul Belize, Ltd. (“PABL”) to the Defendants as a
deposit, binder, security for option or other funds intended by those parties

to be a portion of the total consideration paid for the sale of the two islands,
and which funds have been retained by the Defendants notwithstanding
failure of the transaction to close. In addition to the foregoing relief, the
Plaintiff shall have and recover against the Defendants the sum of
$80,346.00 as reimbursement of costs and expenses including attorneys’
and legal fees, pursuant to the provisions of paragraph 26 of the Listing
Contract, for a total award of $205,346.

Signed: November 14, 2017